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Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased
$198,000 of raw materials on credit; issued materials to production of $195,000 of which
$30,000 were indirect. Bard incurred a factory payroll of $150,000, paid in cash, of which
$40,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of
150% of direct labor cost. The journal entry to record the application of factory overhead to
production is:
Debit Goods in Process Inventory $225,000; credit Factory Overhead $225,000.
Debit Goods in Process Inventory $165,000; credit Factory Overhead $165,000.
Debit Factory Payroll $150,000; credit Goods in Process Inventory $150,000.
Debit Factory Overhead $165,000; credit Goods in Process Inventory $165,000.
Debit Goods in Process Inventory $165,000; credit Factory Payroll $165,000.
Solution
Debit Factory Payroll $150,000; credit Goods in Process Inventory $150,000.

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